1. Which format type of Partnership firm or LLP company is best suited for a group of persons, to pool funds & trade in online commodities?
2. This should be best suitable from lowest applicable income tax and ease of operations & lowest compliance.
Thanks to all in advance for the responses & guidance.
An LLP (Limited Liability Partnership) is the most suitable format. It protects your personal assets through limited liability, allows you to legally deduct trading expenses and partner remuneration to optimize your tax outflow, and avoids the heavy compliance burden and dividend tax traps of a Private Limited Company.
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CAclubindia
